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Stainless steel: imports to Russia increased by 30.8% in 2023
According to a statement by Russia-based SpetsStal Association, the country's stainless steel imports exceeded 486,000 tonnes in 2023, an increase of 30.8% year-on-year. During this period, imports of cold-rolled stainless steel increased by 31.1%, hot-rolled...
European Commission extends CBAM reporting deadline by 30 days
The European Commission announced that it has given registrants an additional 30 days from 1 February to submit their reports, as many importers are experiencing difficulties in reporting emissions under the Carbon Border Adjustment Mechanism (CBAM) due to technical...
Nickel and palladium: Russia’s Nornickel expects a further drop in production this year
Russian metals producer Nornickel said it expects a further decline in nickel and palladium production this year due to adverse geopolitical risks and postponements of furnace repairs, following a drop in production in 2023. CEO Vladimir Potanin said last year that...
LME targets Hong Kong as an option for warehouse expansion
The London Metal Exchange (LME) is studying Hong Kong as a place to expand its global network of metal warehouses, hoping that success will open the door to mainland China, its ultimate goal. Registering warehouses in China, the world's largest consumer of industrial...